Roundhill Meme Stock ETF (NYSEARCA:MEME) Stock Price Up 1.6% – Still a Buy?

Roundhill Meme Stock ETF (NYSEARCA:MEME)’s stock price was up 1.6% during trading on Thursday . The company traded as high as $7.00 and last traded at $6.97. Approximately 113,226 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 291,116 shares. The stock had previously closed at $6.86.

Roundhill Meme Stock ETF Price Performance

The stock has a market capitalization of $18.47 million, a price-to-earnings ratio of -147.48 and a beta of 1.81. The stock’s 50 day simple moving average is $7.04 and its 200-day simple moving average is $17.59.

Hedge Funds Weigh In On Roundhill Meme Stock ETF

Several institutional investors have recently bought and sold shares of MEME. Heck Capital Advisors LLC acquired a new stake in shares of Roundhill Meme Stock ETF in the fourth quarter worth about $4,243,000. Goldman Sachs Group Inc. bought a new position in shares of Roundhill Meme Stock ETF in the 4th quarter valued at approximately $757,000. Simplex Trading LLC bought a new position in shares of Roundhill Meme Stock ETF in the 4th quarter valued at approximately $60,000. Finally, Group One Trading LLC acquired a new stake in Roundhill Meme Stock ETF in the 4th quarter worth approximately $39,000. 29.90% of the stock is currently owned by institutional investors.

About Roundhill Meme Stock ETF

The Roundhill MEME ETF (MEME) is an exchange-traded fund that is based on the Solactive Roundhill Meme Stock index. The fund tracks an equal-weighted index of 25 US-listed stocks selected baesd on a high social media activity score and high short interest percentage. MEME was launched on Dec 8, 2021 and is managed by Roundhill.